Pros
They give a base salary during the first few years and good payout for new assets.
Cons
If you can’t knock on people’s door in a full suit all day and get their name, number, and financial need, you’re toast. They encourage product pushing at the door to get 25 names and numbers/ day rather than offering good financial advice. They hire people mostly from other industries, teach them how to knock, but not actually provide advice. Coming in as an experienced advisor, I was appalled by what I heard and saw their “top” advisors doing and saying. A lot of misinformation and pushing and churning to generate commissions. They say it is all about relationships, which is important, but a relationship is not why people pay over 1% advisory fees. They pay for good financial advice that their culture does not support.